Jake Mitchell

The Nine Entertainment Co prospectus that will be released this morning will confirm chief executive David ­Gyngell as the highest-paid media ­executive in the country, with a remuneration package worth about $10 million a year, The Australian Financial Review reports.

It is understood Mr Gyngell will hold just under 1 per cent of Nine after it is floated, but those shares cannot be traded for three years after the listing, planned for December 6.

He will receive a cash component but the total package will include a significant proportion of equity.

The commercial free-to-air television, ticketing and digital group lodges its prospectus with The Australian Securities and Investments Commission on Monday. Nine is likely to have a market capitalisation of between $1.9 billion and $2.2 billion.

The structure of Mr Gyngell's remuneration dates back to when a debt-laden Nine was owned by private equity group CVC Asia Pacific.

His total package reflects certain performance hurdles, which have been cleared, including the re-financing of the company completed this year, as well as achieving a public market ­listing.

A remuneration package of about $10 million easily exceeds Mr Gyngell’s peers in the Australian media industry.

Seven West Media chief executive Tim Worner, who was appointed to the role on July 1, has a base salary of $2.6 million, with the opportunity to earn up to $5.2 million in fiscal year 2014.

Ten Network Holdings boss Hamish McLennan, who commenced in the role in March, has a base salary of just under $2 million a year, with the opportunity to double it through short-term and long-term incentives.

News Corporation chief executive Robert Thomson was paid $US2.66 million ($2.8 million) for the financial year, after commencing the role in January. He has the opportunity to earn up to $8 million in fiscal year 2014.